OREANDA-NEWS. January 10, 2007. OAO Tatneft's CEO Sh. F. Takhautdinov reported this to the central, Republican and local mass media journalists during a regular press-conference on the 2007 business performance results and plans for 2008 that was held in Almetyevsk (Republic of Tatarstan), reported the press-centre of Tatneft.

According to the 2007 results oil output is expected to reach 25, 740 thousand tonnes. It is the Company's highest oil production level over the period since 1993. The Enhanced Oil Recovery implementation accounts for 45 percent of the total oil output.   

Tatneft-Bureniye Company's meterage drilled would be 851 thousand m of the rocks with 65 per cent drilled for OAO Tatneft. 345 new producing wells are projected to be brought on stream.

Sales net proceeds are expected in the amount of about 200 billion roubles (up 14 percent from 2006), pre-tax profit would be booked about 64 billion roubles. The accrued taxes and budgetary payments amounted to 178 billion roubles including VAT and export duties.

21 billion roubles would be added to the consolidated budget of the Republic of Tatarstan.        
      
The 2007 milestone event Shafagat F. Takhautdinov called the production of three-billionth tonne of oil in Tatarstan. This achievement encompasses the labour of several generations of the people from the oil patch as well as the workers from other industries who helped extract oil. In September all people in Tatarstan celebrated this remarkable event. Company's veterans and best workers were given honours and credits, as well as the awards  among which was the medal "In commemoration of production of the three-billionth tonne of oil in Tatarstan" to appreciate valorous merits of thousands of oil industry people represented by several generations.

Within the OAO Tatneft Corporate Library a unique piece of work dedicated to Russia's oil industry was published - a book named "Three billion. The History", which features people's destinies and heroic work of almost seven thousand of oil workers of  Tatarstan. A monument to memorize the record oil output was erected in Almetyevsk and a number of other social and cultural facilities were constructed as well.

Effective January 1, 2007 under Law №151-FZ ОАО Tatneft applies the differentiated Minerals Recovery Tax rate for the oil produced from the Romashkino field. Over 5 billion roubles are expected to be gained thanks to the tax rate cut-back. The OAO Tatneft Board of Directors made a decision to invest the funds to sustain oil production level.     

Tatneft's CEO told about the implementation of the Extra Viscous and Bitumen Oil Development Programme and the Strategic Partnership Principles Agreement with the Shell Company, Company's operations in the regions of the Russian Federation and abroad, plans for  the Petrochemical Complex and Oil Refineries project in Nizhnekamsk and other operational and social related activities of OAO Tatneft. 

ОАО Tatneft is a major participant involved in the Republican Housebuilding  Program under the mortgage lending scheme. During the Programme (for the period from 2005 to 2007) two thousand apartments with about 62,2 thousand m2 in total have been built for the oil industry people. Construction activities have been going on in almost every region in the South-East of the Republic of Tatarstan - a key region of Tatneft's business operation.